21/06/2013 - Producers, authors, industry players and union members ask for the renewal of current conditions after news – as of yet unconfirmed – that tax break subsidies are to be slashed for industry practice, production and distribution

The cinema world is up in arms after news – as of yet unconfirmed – that tax breaks are to be slashed for film industry practice, production and distribution. The potential reduction of the allocation would make tax credits, which have proved how effective they are in the last few years, unusable, according to a joint memo released by Anica, Agis, 100Autori and unions. In a period of major economic crisis, tax breaks have enabled the level of investment to remain constant, thereby avoiding negative consequences across the industry including the livelihoods within it. Tax cuts have also proved beneficial to the Italian state, which has seen a positive return on its investment.

The slashing of the tax break policy is contained in the decree put forward by the government to re-launch development and jobs. This, despite the fact that just a few days ago, the minister for Cultural Heritage and Activities, Massimo Bray (photo), had expressed satisfaction towards the council of ministers’ agreement to three measures for the sector. These measures included the renewal of the tax cuts, as well as the reintegration of branches within the ministry, indispensable to its superior council, which would give the minister the possibility to manage funds from within his department in order to guarantee solutions in times of emergency.

Bray explained that tax cuts for the cinema world “had been extended through 2014-2015 with the commitment to find resources for the following years too. We need to have an understanding,” Bray concluded, “that culture and tourism are fundamental bases to getting the economy going again.” 

(Translated from Italian)